VANCOUVER, March 15, 2017 /CNW/ - International Tower
Hill Mines Ltd. (TSX: ITH, NYSE-MKT: THM) ("ITH" or the "Company")
today announced that is has filed its audited year-end financial
statements and associated management discussion and analysis and
year-end report on Form 10-K for the year ended December 31, 2016.
The Company's working capital at December
31, 2016 was USD 7.6 million
(after allowing for payment of the derivative liability of
USD 14.7 million in January 2017) which is expected to allow ITH to
advance the Livengood Gold Project through 2017.
Shareholders can obtain copies of the Company's annual financial
statements and associated management's discussion and analysis and
Form 10-K on SEDAR at www.sedar.com, EDGAR at www.sec.gov and on
ITH's website at www.ithmines.com. ITH will also provide hard
copies of these documents, free of charge, to shareholders who
request a copy directly from the Company.
About International Tower Hill Mines Ltd.
International Tower Hill Mines Ltd. controls a 100% interest in
the Livengood Gold Project, located along the paved Elliott
Highway, 70 miles north of Fairbanks,
Alaska.
On behalf of
International Tower Hill Mines Ltd.
(signed) Karl
Hanneman
Chief Executive Officer
Cautionary Note Regarding Forward-Looking
Statements
This press release contains forward-looking statements and
forward-looking information (collectively, "forward-looking
statements") within the meaning of applicable Canadian and US
securities legislation. All statements, other than statements
of historical fact, included herein, including statements with
respect to the proposed use of the proceeds of the December 2016 private placement by the Company,
the ability of the Company to carry out and complete optimization
studies with respect to the Livengood Gold Project, the potential
for the results of the 2017 work program to have a positive effect
on the 2016 PFS economics, and the magnitude of the anticipated
effects, the ability of the Company to advance the Livengood Gold
Project, the potential development of any mine at Livengood,
business and financing plans and business trends are
forward-looking statements. Although the Company believes
that such statements are reasonable, it can give no assurance that
such expectations will prove to be correct. Forward-looking
statements are typically identified by words such as: believe,
expect, anticipate, intend, estimate, postulate, proposed, planned,
potential and similar expressions, or are those, which, by their
nature, refer to future events. The Company cautions
investors that any forward-looking statements by the Company are
not guarantees of future results or performance, and that actual
results may differ materially from those in forward-looking
statements as a result of various factors, including, but not
limited to, risks associated with the outcome of the expected
remedial de-listing review by the TSX, the use of proceeds from the
December 2016 private placement, the
potential inability of the Company to raise the necessary capital
or to be fully able to implement its business strategies, and other
risks and uncertainties disclosed in the Company's annual report on
Form 10-K and other reports filed with the United States Securities
and Exchange Commission (the "SEC"), and certain securities
commissions in Canada and other
information released by the Company and filed with the appropriate
regulatory agencies. All of the Company's Canadian public
disclosure filings may be accessed via www.sedar.com and its
United States public disclosure
filings may be accessed via www.sec.gov, and readers are urged to
review these materials, including the latest technical report filed
with respect to the Company's Livengood Gold Project.
This news release is not, and is not to be construed in any
way as, an offer to buy or sell securities in the United States or Canada.
SOURCE International Tower Hill Mines Ltd.